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Does say on pay matter? : evidence from Germany

Tröger, Tobias; Walz, Uwe - 2019

remuneration is decreased if shareholder support for compensation schemes is low in say on pay-votes finds only weak support, if … analytical approach for say on pay-regimes. Any evaluation of a shareholder voice-strategy in regulating executive remuneration … has to pay close attention to the limits contract law stipulates for the adaptation of existing remuneration agreements …

Persistent link: https://www.econbiz.de/10012061896

Subjective CEO Pay and Long-Term Incentives

Ma, Fangyuan - 2019

I find that corporate boards frequently link CEO compensation to subjective performance measures that are neither accounting ratios nor stock returns. Subjective measurement incorporates soft information privately observed by the board about the CEO's contribution to long-term firm value. I show...

Persistent link: https://www.econbiz.de/10012895181

Revisiting Executive Pay in Family-Controlled Firms

Cheong, Juyoung - 2014

According to the prior literature, family executives of family-controlled firms receive lower compensation than non-family executives. One of the key driving forces behind this is the existence of family members who are not involved in management, but own significant fraction of shares and...

Persistent link: https://www.econbiz.de/10013047067

Bank owners or bank managers : who is keen on risk? ; evidence from the financial crisis

Gropp, Reint; Köhler, Matthias - 2010

In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...

Persistent link: https://www.econbiz.de/10003941710

Shareholder Activism in Germany : Theoretical Considerations and Empirical Evidence

Schaefer, Henry - 2019

Germany is the largest economy in Europe and yet there has been very little research in the area of shareholder activism. Main objective of this research paper is to discuss shareholder activism for DAX 30 companies. We provide the most recent empirical evidence that formal activism in Germany...

Persistent link: https://www.econbiz.de/10012905868

The Variability of Board Size Determinants : An Empirical Analysis

Ning, Yixi - 2018

[enter Abstract Body]We use a sample of randomly selected CRSP-listed firms to explore the cross-sectional determinants of corporate board size. We find that the average number of directors on boards differs significantly across industries. Further evidence indicates that these differences are...

Persistent link: https://www.econbiz.de/10012911228

The Effect of Board Structure on Firm Performance - New Evidence from Product Market Conditions

Hu, Xiaoyuan - 2019

We study the effect of corporate board structure on firm performance under different product market conditions. Using customer-supplier links to identify exogenous downstream demand shocks, we find that board independence has a more significant effect on firm performance when the firm-specific...

Persistent link: https://www.econbiz.de/10012899406

Path Dependence or Convergence? The Evolution of Corporate Ownership Around the World

Yeh, Andy - 2016

We derive and develop a simple and intuitive model that shines fresh light on the relentless debate over whether corporate ownership converges to the Berle-Means modern corporation with high stock ownership dispersion. Our model takes into account the importance of both protective legal...

Persistent link: https://www.econbiz.de/10013004147

Does Corporate Governance Causally Impact Firm Returns? The Case of India

Jacob, Sajit - 2019

This paper discusses stakeholder wealth maximization as the ultimate objective of Corporate Governance. This study investigates the role of CG in minimizing the total risk on the firm and maximizing the wealth. At the end, paper intends to examine possibility of CG as a sorting variable for...

Persistent link: https://www.econbiz.de/10012858921

Are Excess Cash Holdings More Valuable to Firms in Times of Crisis? Financial Constraints and Governance Matter

Chang, Yanhao - 2014

This study examines the impact of cash holdings on firm value before and during the 2008 financial crisis. In answering this question, our analysis assesses the conditioning effect of financial constraints and corporate governance. In our core finding we show that the equity market places a...

Persistent link: https://www.econbiz.de/10013058798

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